Pre-market: Sensex to trade on cautious note

Oil Marketing Companies to be in focus

In trade today, the markets will to react to mixed global cues amidst a weakening rupee, and the oil marketing companies’ move to hike petrol prices late Wednesday evening.

Wall Street stocks staged a late recovery and the euro flirted with a near two-year low on Wednesday, as investors remained on edge about Greece's possible exit from the euro-zone.

The Dow Jones industrial average ended down 0.05%, while the Standard & Poor's 500 Index moved up 0.2%.

Asian shares were steady but remained vulnerable on Thursday amid signs European leaders were unable to deliver meaningful measures to resolve the region's deepening debt crisis. MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.2%, while Japan's Nikkei stock average rose 0.4%.

Back home, technical analysts expect the Nifty to face resistance around 4,900 – 4,950 levels. At 705am Indian Standard Time, the SGX Nifty was trading at 4,832 – up 0.6%.

Among individual stocks, government-owned oil marketers raised the price of petrol by a record Rs 6.28 a litre. This could bring the stocks of auto and oil marketing companies back in the limelight today.

Tech Mahindra has reported a three-fold increase in net profit at Rs 302.5 crore for the fourth quarter ended March 2012.

On the other hand, Canara Bank has posted 17% dip in its consolidated net profit at Rs 3,341.69 crore for 2011-12.

Also keep a tab on Jet Airways, Reliance Power, TVS Motor, Videocon and Voltas as they will announce their respective March quarter results.